Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M
1601 Dunn Avenue & 5928 Firestone Road
$31,750,000
$56/SF
Building Size
565,154 SF
Asset Type
MultiFamily
Closing
Mar 1, 2024
AI
The multifamily property located at 1601 Dunn Avenue and 5928 Firestone Road in Jacksonville was sold for $31,750,000. This property spans 282,577 square feet and consists of 328 units, resulting in a price per unit of $96,799 and a price per square foot of $112.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,750,000
- Units: 328
- Square Footage: 282,577
- Price per Unit: $96,799
- Price per Square Foot: $112
- Address: 1601 Dunn Avenue & 5928 Firestone Road, Jacksonville
- Market: Jacksonville
- Buyer: Joe Rubin & Richard Shuster - Southeast Property Group
- Seller: Capital Property Partners
- Brokers: Daniel Rahmani & Rubens Jourdan - Capital Property Partners
The buyer, Joe Rubin, and Richard Shuster of Southeast Property Group acquired the property from Capital Property Partners at the specified all-in price. The deal was facilitated by the brokers Daniel Rahmani and Rubens Jourdan from the selling entity, Capital Property Partners.
Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93